MariMed Begins Operations in Expanded Maryland Facility
The TDR Three Key Takeaways on MariMed’s Expanded Maryland Facility:
- MariMed has doubled the flower capacity of its Maryland cultivation facility, preparing for retail and wholesale distribution by Q4 2024.
- The facility expansion includes nine new grow rooms and aims to meet increasing demand for MariMed’s flower, concentrates, and edibles.
- MariMed’s operations in Maryland also feature a GMP-certified kitchen and a Thrive Wellness Dispensary in Annapolis.
MariMed Inc. (CSE: MRMD, OTCQX: MRMD) has started operations in the newly expanded area of its cultivation and processing facility in Hagerstown, Maryland, which will double the facility’s flower capacity. This expansion is expected to meet the growing demand for MariMed’s products, including flower, concentrates, and edibles, in the state. The company plans to fill all nine new grow rooms within the next two months, with the first harvest anticipated to be ready for sale through retail and wholesale channels during the fourth quarter of this year.
Jon Levine, MariMed’s Chief Executive Officer, stated, “We are thrilled to announce the commencement of cultivation operations in the new wing of our cultivation facility in Hagerstown. Maryland is a fantastic, high-growth, adult-use market. Increasing flower production capacity in Maryland was one of our strategic priorities and was necessary to meet the growing demand for our products throughout the state.”
In addition to the expanded cultivation facility, MariMed operates a GMP-certified kitchen in Hagerstown and a Thrive Wellness Dispensary in Annapolis. The dispensary offers a curated selection of products from MariMed’s award-winning brand portfolio, including Nature’s Heritage flower and concentrates, Betty’s Eddies fruit chews, Bubby’s Baked soft-baked goods, Vibations hydrating drink mixes, and the full suite of InHouse branded products.
This news follows previously announced news earlier this month that the company has made key acquisitions and received important regulatory approvals as part of its strategic plan. MariMed acquired Medleaf in Prince George’s County, now branded as Thrive Wellness, and plans to reopen it for adult-use sales, pending regulatory approvals. This will be MariMed’s second adult-use location in Maryland, adding to its dispensary in Annapolis and its cultivation and processing facility in Hagerstown. In Massachusetts, MariMed’s Quincy Panacea Wellness dispensary was approved for adult-use sales, making it the company’s third adult-use dispensary in the state. MariMed also secured a provisional dual-use license in Ohio for its Tiffin dispensary.
MariMed’s expanded Maryland cultivation facility is now operational, doubling its flower capacity to meet growing demand and prepare for retail and wholesale distribution by Q4 2024. MariMed will announce their earnings for Q2 2024 on August 7th after the market closes. Want to be updated on Cannabis, AI, Small Cap, and Crypto? Subscribe to our Daily Baked in Newsletter!
